• Captain
  • Atlas TMS
CargoTrans Inc.
  • Solutions
        • Customs Brokerage
        • Trade Compliance Management
        • Multimodal Transportation
        • International Transportation
          • Air Freight
          • Ocean Freight
          • Import & Export
          • Consolidation
          • Drayage
        • Technology & Visibility
        • Warehouse & Distribution
        • Domestic Transportation
          • Transload & Deconsolidation
          • Transportation Management System (TMS)
          • Truckload (TL)
          • Less Than Truckload (LTL)
          • Parcel Optimization
  • Who We Serve
    • Retail & Consumer Goods
    • Industrial Manufacturing
    • FF&E
    • Food & Beverage
    • OS&E and Hospitality
    • Cosmetics & Chemical Distributors
    • Our Customers
  • Who We Are
    • The CargoTrans Way
    • Core Values
    • Meet the Team
    • Environmental, Social & Governance
    • Partnerships & Certifications
  • Careers
  • Insights
    • Blog
    • Market Updates
    • Resources
  • Contact
  • Get My Quote
  • Menu Menu

Some Rate Relief as “Christmas in July” Demand Wanes

In this market update, Asia to North America rates are retreating, particularly to the West Coast, due to increased capacity and niche carriers entering the market. Severe weather around the Cape of Good Hope is causing delays, with some vessels temporarily diverting to the Panama Canal. Rates from the Indian Subcontinent to North America are surging due to scarce space, though new services from Hapag and CMA should help. US export rates are rising due to global demand, and Asia to Europe sees equipment shortages and port congestion easing slightly. Air freight tonnage and rates show continued growth.

Asia to North America

Rates continue to retreat especially to WC NA as capacity and niche carriers enter the market increasing capacity. Demand also showed some signs of waning. Rates to EC are easing but not as quickly as WC mostly due to continued capacity constraints and concerns over potential labor strikes. We will continue monitoring the measures that carriers take to offset any potential sharp drop off in rates. More blank sailings have been announced in August to proactively manage capacity and keep rates elevated.

Cape of Good Hope

Last week severe weather conditions around the Cape of Good Hope forced container lines to seek shelter from strong winds and high waves. CMA-CGM’s vessel lost 44 containers overboard when the vessel went around the Cape of Good Hope on July 9th. It’s reported that about 600 container ships routing around Africa could be impacted by the extreme weather. Vessel diversions from the Red Sea since last November have added 14 days or more to the voyage between the US and Asia. We expect some vessels may be temporarily diverted to route via the Panama Canal. Wave heights have reduced to 23-26 feet and are expected to continue decreasing. Estimated arrival times for vessels have been delayed by 24-48 hours, and some vessel bunching may occur at ports globally.

India to North America

Freight rates from the Indian Subcontinent continue to surge as space is scarce. New standalone services from Hapag and CMA beginning in August should provide some relief.

US Exports

Ocean rates for Q3 continue to increase driven by a surge in global demand. It’s recommended to book 3-4 weeks in advance especially if the origin is inland.

Asia to Europe

Equipment shortages and port congestion is improving, however, there are several blank sailings announced for the second half of July and August.

Asia to North America/Europe

Global tonnage and rates continue to show 9-10% year-on-year growth as some sea freight is converted to air to avoid longer transit times. E-commerce continues to support year-on-year volume growth across both markets Asia to Europe & North America.

Airlines say cargo operations ‘severely affected’ by outage
Delays and backlogs are expected across the air cargo industry, following the Microsoft & CrowdStrike IT outage, causing bottlenecks and delays with several airlines in the coming days.
Read More

Container futures trading trend suggests no end to Red Sea crisis this year
Trading of China’s Asia-North Europe container shipping futures saw double-digit gains for early 2025 freight levels, indicating that shippers believe the Houthis will continue to terrorize shipping in the Red Sea into next year.
Read More

Ports of Los Angeles, Long Beach Commit $25 Million to EV Truck Chargers
The Ports of Los Angeles and Long Beach are pouring $25 million into new charging infrastructure for electric heavy-duty drayage trucks.
Read More

New container volume high provokes major concerns over peak season 
Global demand for ocean freight container shipping has hit a record level, surpassing peak-Covid demand, but leaving shippers with a big question about the traditional peak season.
Read More

The age of alliance domination of east-west box trades may be over
The market share of independent container shipping services on the major east-west deep-sea trades has climbed in recent months and is returning to pandemic-era levels.
Read More

Cargo Ship Grounds, Boxships Stopped Due to South Africa’s Bad Weather
Bad weather and high seas off South Africa are continuing to disrupt most shipping in the region with forecasters warning of more storms to come.
Read More

Cargo owners and truckers slam carriers’ call to delay new D&D rules 
Organizations representing cargo owners and drayage providers are up in arms over an attempt by ocean carriers to halt the implementation of US rules on billing demurrage and detention (D&D) charges.
Read More

US regulators putting the brakes on Gemini Alliance 
The US Federal Maritime Commission (FMC) has asked for more information on Maersk and Hapag-Lloyd’s Gemini Alliance agreement that was due to become effective on 15 July.
Read More

Questions? All you have to do is contact us.

#makingtheworldsmaller

[/vc_column_text][/vc_column][/vc_row]

Share This Post

  • Share on Facebook
  • Share on X
  • Share on WhatsApp
  • Share on Pinterest
  • Share on LinkedIn
  • Share on Tumblr
  • Share on Vk
  • Share on Reddit
  • Share by Mail

More Like This

A Leading Freight Forwarder and Supply Chain Partner for Domestic and International Transportation.

Our Services

International Transportation

Domestic Transportation

Customs Brokerage

Warehouse and Distribution

Trade Compliance Management

Technology and Visibility

Contact Us

1129 Northern Blvd Suite 404, Manhasset, NY 11030

516-593-5871
[email protected]

Stay Connected

Website by Abstrakt Marketing Group ©
  • Terms and Conditions
  • Sitemap
  • Privacy Policy
Link to: Rates Edge Closer to Pandemic Highs Link to: Rates Edge Closer to Pandemic Highs Rates Edge Closer to Pandemic Highs Link to: You’re only as good as your last shipment… Link to: You’re only as good as your last shipment… You’re only as good as your last shipment…
Scroll to top Scroll to top Scroll to top

This site uses cookies. By continuing to browse the site, you are agreeing to our use of cookies.

AcceptAccept

Cookie and Privacy Settings



How we use cookies

We may request cookies to be set on your device. We use cookies to let us know when you visit our websites, how you interact with us, to enrich your user experience, and to customize your relationship with our website.

Click on the different category headings to find out more. You can also change some of your preferences. Note that blocking some types of cookies may impact your experience on our websites and the services we are able to offer.

Essential Website Cookies

These cookies are strictly necessary to provide you with services available through our website and to use some of its features.

Because these cookies are strictly necessary to deliver the website, refusing them will have impact how our site functions. You always can block or delete cookies by changing your browser settings and force blocking all cookies on this website. But this will always prompt you to accept/refuse cookies when revisiting our site.

We fully respect if you want to refuse cookies but to avoid asking you again and again kindly allow us to store a cookie for that. You are free to opt out any time or opt in for other cookies to get a better experience. If you refuse cookies we will remove all set cookies in our domain.

We provide you with a list of stored cookies on your computer in our domain so you can check what we stored. Due to security reasons we are not able to show or modify cookies from other domains. You can check these in your browser security settings.

Other external services

We also use different external services like Google Webfonts, Google Maps, and external Video providers. Since these providers may collect personal data like your IP address we allow you to block them here. Please be aware that this might heavily reduce the functionality and appearance of our site. Changes will take effect once you reload the page.

Google Webfont Settings:

Google Map Settings:

Google reCaptcha Settings:

Vimeo and Youtube video embeds:

Accept settingsHide notification only
logo
Build a More Sustainable Future with Our CO2 Emissions Tracking Software
Learn More